Last year, coffee enthusiasts around the world had to pay higher costs as coffee bean prices rose to their highest levels in more than a decade. The price of wholesale arabica beans has started to drop recently, though, and customers will soon benefit from these reductions.

Despite the declining price of beans, businesses are still using up their supply for 2022 while still battling rising packaging and energy prices. This unfortunately means that the decrease in prices won’t be felt till roughly 2024.

Luigi Lavazza SpA who is a world-leading Italian coffee roasters said: “We bought a lot of coffee in 2022 and we still have this coffee in our stocks".

"We have to sell the coffee at the price we bought in 2022. In 2024, we'll have space to provide more discounts and have flexibility in pricing.”